Thread regarding 3M layoffs

I didn't get laid off this round, but now, for the first time in a VERY long time (like decades) I'm looking for better jobs outside the company. If I get laid off first, I'll take the insultingly stunted severance package that Mr. 'I make millions a year, and feel so bad for those impacted' is willing to throw me. Then I'll apply for any job. They got rid of good people, and more good people are going to leave because they don't feel safe. Also, doesn't look like the stocks are shooting up. I hope this company gets terrible press. Merry Christmas

Damn it. Couldn’t they have some courtesy to give people a heads up in advanced instead of informing people when it’s nearing the holiday season!?

Yep happened to me. Clinical specialist here. I pretty much had a premonition when I saw the email for an important mtg with my boss + HR. Saw globally also a lot of clinical specialist leads are getting laid off too. How disappointing. I was hoping that with restructuring, they would improve their current model and how things work. Only to find out that their strategy was to lay people off instead. And right before Christmas. What a nice Christmas gift.

Wow this is shocking. I don’t currently work at Solventum. However, interestingly enough I’m currently interviewing for a role in the legal dept at Solventum. I’m so sorry to those that got laid off. I know that pain and feeling all too well as I was laid off 6 months ago from a global company. Got the rug pulled from under me. The white collar job market has been super tough this year. Seeing and reading all these comments are very scary. I don’t understand how they can have all these layoffs and yet interview for new roles….Ive had three interviews, but now knowing this, I don’t know if I could consciously accept a job offer knowing all this.

There will be more layoffs. 6-8 months timeframe when this new restricting fails. Leadership is trying to go back to the pre KCI model and separate KCI from legacy 3M infection prevention that Mike D and co did. Problem is they lost all the talent from the arizent folks, backorders aren’t going away, pricing is going up, and competition is getting stronger. When this fails, the newly created jobs will get wiped away again just like before and worse more people will eliminated. Best thing to happen is in 2 years they sell off the legacy 3M business from med surge and reinvest the money to negative pressure. Go out and purchase an implant company, a DME company, and a tissue company. Then they can have a strategically focused organization instead of playing with 3M stale leftovers.

For those of you with RSUs/stock options. Did your severance package include those all vested, or none? Did severance include your yearly bonus.
This is just horrible to happen during the holidays. Hope everyone gets rehired somewhere quick and they paid you all what you earned/bonus/stock etc.

@1kev+1vOtVPjM
I am not the person who mentioned Phase 2 – but I know where it is coming from.
The Phase/Wave 1,2,3 talk is coming from 10-Q and 8-K SEC filings made by Solventum. Check out investors.solventum.com/sec-filings for starters – but they don’t list everything – the SEC website is even better. On this site, Varys has done an excellent job of reviewing the 3M SEC documents and highlighting key info “hiding in plain sight”.

Here's a quick synopsis –

In July 2024, it became public that activist investor Nelson Peltz (Trian Fund Management) was attacking Solventum. He made a number of harsh public statements (I can’t even image how many swear words were in the private statements!) about the mis-management at Solventum. Solventum makes no sense – four separate businesses tossed together by a 3M desperate to make its ear plug and PFAS payouts. Peltz has vowed to “unlock shareholder value” – these words should have every Solventum employee trembling in their shoes – or better yet, dusting off their resume. If you work at Solventum, you SHOULD be worried – this is not a false threat from Peltz. On Sept 28, 2024, 24/7 Wall St reported that Peltz had ”… acquired almost 5.4 million shares worth $283.5 million at current prices.” He has purchased many more shares since July. Solventum management then hired “advisors” to formulate the “Three Phase” response (which is what you are asking about). Shortly thereafter, the Wall Street Journal reported that Filtration & Purification has been put up for sale and they are actively seeking bids.

On Sept 10, 2015 Reuters wrote “3M exploring sale or spinoff of heath software unit.” On Feb 2, 2016 the 3M website wrote “3M to Retain and Invest in its Health Information Systems”. It was reported they didn’t get a single bid. The HIS unit couldn’t be sold and wasn’t worth spinning off (Inge Thulin’s words). If you work in HIS, don’t be fooled – your days are numbered. It is doubtful that Solventum will have any better luck than 3M did selling HIS – it is likely worth pennies on the dollar.

While this layoff happened only months after the April 1 debut, it will NOT be the last. Don’t let your management take you for a fool – you’d be stupid to believe them. Treat every paycheck like it is your last one – it very well might be.

Sorry to all affected. I hope your holiday's aren't ruined.

Super unpleasant and possibly unexpected; the execs had previously not indicated restructuring, certainly of this scale.

But the reality is that 3M has given SOLV a pile of challenges to navigate; guess this is one way to go about it. Also have heard that execs have been disappointed with sales and marketing performance, so that might be part of it. The usual 3M strategy of often missing targets is not acceptable to them.

The stench of Mike Roman's strategies is still wafting throughout the corridors at SOLV. Sounds like they are repeating the 3M layoff playbook word-for-word.

Are they not reallocating resources away from HIS?

I'm the person who asked about being told we could apply for positions that will be posted. To the person who replied about HIS. I am HIS - have been there 17 years. I'm heartbroken.

For the comment asking if anyone was told that they could apply for open positions during their mandatory meeting - yes I was told that as well as all of my coworkers who were laid off. When I said how are you still hiring when you're laying off so many employees, I was told I can only say that you are able to apply for any current openings until Jan 5th. They weren't allowed to go off script for any questions. HIS hit hard. Especially with people who had been there 15+ years.

Cuts were made in IT already today. Not sure how many total. Evidently a couple managers were able to confirm that their team members were safe this morning, others have nothing to do but wait. No clue how long this round is going to last. We’re already running too lean. Starting to get really demoralizing around here.

Yes we were also told that this is just Wave 1….

Lost my position within global marketing this morning. Also completely surprised as we just had our annual 1:1 discussing promotion. I believe the writing has been on the wall for awhile, with lots of cuts happening to the rebranding effort. Feeling for everyone effected.

Ok, person who keeps mentioning this mysterious Phase 2. Tell us what you know. Making us worry without intel is really not ok. Thanks.

Wait for phase 2. This is just the beginning

Didn’t receive a meeting today. I’m very worried for the HIS department. Just hope it’s over and I’m so sorry for those people who did get that dreaded meeting.

For anyone reading that is still alive and needing hope, I’m just hoping they got it all done today. I just had a baby and I’m scared to take paternity.

I work at the corporate office and there are only two of us that run a global program and I was let go today. My coworker and I were already doing the work of 4 people. I’m not sure what their thought process is. Maybe when we start getting fined for lapses in our program by federal agencies they will wake up but I’m not confident that will happen.

Any word when IT will get notified or how many are on the list and which areas are going to get hit hardest? Very concerned for my role.

It’s affecting everyone globally. So sad…

I'd like to know if anyone besides me was terminated today during one of the infamous mandatory meetings... and then told they are welcome to apply for new jobs that will be posted next week. Curious if anyone else was told that.

So sorry for all those that got notice today. I miss the old days where attrition was the first option.

What makes you say phase 1 if they are paying 68 jobs Monday ?

Just Phase I? Do tell! I scraped by and didn't get laid off, but need to know if I need to look earnestly for another job - I'm the main breadwinner. And SO SORRY to everyone who was laid off at such a bad time. :-(

I know a person in data analytics who got his call. he does more statistic machine learning sort of stuffs. He was long time ago also part of OG team that launched prevena and ultavac. He said he was called this morning from his department VP not his boss. He says one of his own bosses did not even know before today. It is bad because this company losing talent and experience that can make business better with models and things that help systems and make smart decisions for. It is even really bad because he was called while he is in hospital ICU and dude was actually working from there! That area was-is toxic maybe. I think so bc when I needed help from anotother grumpy guy with tableu he talked down to us on team and made us feel like little babies. He also talked s**t about people in his own team to us! I could not believe it! I bert they keep him though. We lost three today on sales ops side and have too much work already that is impacted. I am now worried about my job. Looks like was ok for stock. Price went up in US morning hours maybe with news about layoff? Do more with less again, make investor happy keep head down do not challenge anything do not make anything better it is not about patients. Welcome to solventum way 2025. Happy holiday!

A close friend and his wife who both work there were laid off today. Merry Christmas

Beware that this is just phase 1

~4% of total headcount

Some Solventum areas that have been have been mentioned so far as impacted...

37 from Corp. Marketing Center
Clinical Support Specialist
HIS Software Development
Sales Reps (med device?)
Purification & Filtration

The what was said during Hansons 4pm call?

Could anyone share which departments and divisions were laid off? Absolutely awful timing….

First and foremost, I feel for the impacted employees especially getting this news so close to the holiday season.

Second, when and how can companies be punished for this behavior? If I had any authority, I would strip Solventum of its tax breaks it just received for its Eagan, MN building. Solventum effectively duped city and state officials with the promise of jobs and the associated increased tax revenues. So of Solventum can layoff the people who would be paying these taxes, then MN needs to reduce or eliminate the tax benefits accordingly. If there are no consequences for these behaviors, Solventum will continue to ask for handouts while eliminating the same people that pay the taxes that enabled the handout.

For the severance package question, yes, still 2 weeks for every year of service. However they capped it at 6 months. Love, the Clark Griswold comment. Needed that right now. Would love to see Bryan tied up at his PJs.

I recently got hired 3 months ago as an associate patient support specialist.. however I knew this was going to happen...

The media has started reporting on the layoffs

https://www.startribune.com/solventum-laying-off-workers-ceo-message/601190733

Clinical specialist leadership is being wiped out as we speak.

This is even worse than my old boss Frank Shirley cancelling the Christmas bonuses. At least Frank came around after Cousin Eddie "persuaded" him to be a nice guy.

Bryan needs to watch the Christmas Vacation marathons to know how NOT to treat his employees around Christmas.

Aren't most of the managers at Solventum former 3M bosses?

This is too easy to revert back to what happened in the "Roman" empire days.

Too bad the new guy burned any good will by slashing jobs before the holidays.

GTLA. Just glad I'm out of the madness and retired.